Tag: HPI

Morgans adjusts its target price to $3.56 from $3.58 and retains its Add rating.

Hotel Property Investments’ result was in-line with Morgans expectations. The FY20 distribution was 20cps and the broker forecasts FY21 DPS of 19cps.

Hotel Property has declared a final distributional of 9.7c for FY20, ahead of Morgans’ forecast. This brings total distributions to 20c.

Hotel Property is the owner/landlord of 42 hotels, of which 41 are leased by and operated by Coles ((COL)). Coles has entered a JV with Australian Venue Co in relation to its hotels business.